Community Loan Fund of the Capital Region Inc

Nonprofit profile at a glance

EIN
222706505
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Albany, NY, USA
Phone
5184368586
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Support

Official website

Reported finances

Revenue
$3,802,384
Expenses
$3,471,839
Assets
$24,998,522
Liabilities
$10,661,929

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • PATRICK GUNTY (PRESIDENT)

Highest reported compensation

  • LINDA MACFARLANE (PAST EXECUTI): $139,850 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Community development financial institution that links socially concerned investors with community needs by making affordable housing, community and economic development loans to nonprofit orgs, small businesses and low/moderate income persons.

What it reported doing in 2024

Provide community and economic development loans and technical assistance to nonprofit organizations, social enterprises, small businesses, micro enterprises and low-moderate income individuals.

Operating model

Revenue model
Grant-funded. 68% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 51% for direct work, and 49% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.2%; rating input score 86
  • Program expense ratio: 93.5%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.7%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 7.2; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 4%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 13.6% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 86.2% of revenue deployed · 93.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $140K · 12 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.